XBRL Filings To Become Mandatory This June

Law360, New York (February 11, 2009, 12:00 AM EST) -- In an attempt to empower amateur analysts, the U.S. Securities and Exchange Commission has issued a final rule mandating that all public companies begin reporting their financial results using eXtensible Business Reporting Language, or XBRL.

The 500 or so public companies with a market capitalization of over $5 billion will have to begin filing their financial results in XBRL by June 15, in time for their second quarterly reports of the year.

Other domestic and foreign large accelerated filers will have to begin filing in XBRL...